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§ 10-46B-1.1 Tax measured on accrual basis.

SD Codified L § 10-46B-1.1 (2019) (N/A)
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10-46B-1.1. Tax measured on accrual basis. The secretary of revenue shall allow contractors to report and pay contractor's excise tax measured by gross receipts upon an accrual basis if:

(1) The contractor has not changed his basis in the previous calendar year;

(2) The contractor's records are kept in a manner which may be audited to determine whether contractor's excise tax and use tax are paid for all realty improvement contracts;

(3) The contractor has made a written request to the secretary of revenue for authority to pay tax on the accrual basis; and

(4) Authority to pay tax on the accrual basis applies only to realty improvement contracts commencing after the authority is granted.Source: SL 1990, ch 93, § 4; SL 2003, ch 272 (Ex. Ord. 03-1), § 82; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.

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§ 10-46B-1 Tax imposed on receipts from certain realty improvement contracts--Rate of tax.
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§ 10-46B-1.2 Tax paid on cash basis.